05Nov

Cryptocurrencies backed by cash could elude new regs

Cryptocurrencies backed by cash could potentially be covered by the same regulations used to govern securities, according to a global financial oversight group. The finding could help move forward projects such as Facebook’s Libra digital currency, known as a stablecoin.

The International Organization of Securities Commissions (IOSCO), made up of securities regulators from the U.S., Europe and Japan, said its analysis shows “stablecoins can include features that are typical of regulated securities.”

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